AMETEK, Inc. (NYSE:AME) Shares Purchased by Drake & Associates LLC

Drake & Associates LLC increased its position in AMETEK, Inc. (NYSE:AME - Free Report) by 32.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,071 shares of the technology company's stock after acquiring an additional 2,237 shares during the period. Drake & Associates LLC's holdings in AMETEK were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AME. Norges Bank purchased a new position in AMETEK in the 4th quarter worth $697,080,000. Capital World Investors raised its stake in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after buying an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after buying an additional 968,661 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of AMETEK by 18,368.3% during the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after buying an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of AMETEK by 240.3% during the 4th quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company's stock valued at $202,805,000 after buying an additional 794,473 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AMETEK stock traded up $2.20 on Friday, hitting $184.19. The company's stock had a trading volume of 719,336 shares, compared to its average volume of 1,303,844. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The firm has a fifty day moving average price of $177.30 and a 200-day moving average price of $177.06. The company has a market capitalization of $42.53 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business earned $1.64 EPS. AMETEK's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.67%. AMETEK's dividend payout ratio (DPR) is currently 20.29%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley assumed coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. Royal Bank Of Canada lifted their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Robert W. Baird reduced their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Mizuho set a $212.00 price objective on AMETEK in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and an average price target of $197.89.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.